CRYPTOCURRENCY VS BANK ISSUED FIAT CURRENCY
So we are aware that cryptocurrency are base on cryptography and that it might be easy to create a new cryptocurrency anytime and because of that many people are concern that the chances are cryptocurrency will not be long live. Here are some reason why I believe cryptocurrency will be around very long and will have a lot more value than cash.
1. BRAND
As we know to date that there are over 600 different cryptocurrency out since after bitcoin success, however some are doing a lot better than others because of what they are created around and the community that supports them.
2. AMOUNT OF THAT CRYPTOCURRENCY AVAILABLE
If a cryptocurrency have a good brand and a strong supported community behind it, it will always have a high value. Let look at this scenario: In America there are thousands of banks and all these banks represent one currency, the US dollar and when each of these individual bank give out a loan they create new money and increase the money supply heavily causing the value to decline drastically. It is certainly not so with cryptocurrency. Each cryptocurrency can be look at as an individual bank that represent their own currency and because there is no loan system within cryptocurrency only the amount of coins mined after the block chain is set will be available for use. So the more that the community grow the higher the value of that cryptocurrency.
3. CRYPTOCURRENCY IS A DECENTRALIZE SYSTEM
Most people don't understand cryptocurrency yet, however when they do and realize how transparent, safe and easy to use it is more and more people will be jumping on board. When they realize that they have more control over their money and that they don't have to pay high fees and that they now have more value in their money, cryptocurrency will explore in value
4. THE BANKING SYSTEM IS NOT GOING TO GET ANY BETTER SO I DON'T SEE PEOPLE BEING ABLE TO EVER TRULY TRUST BANKS AGAIN
5. CRYPTOCURRENCY IS CONSIDERED TO BE PROPERTY
According to a ruling by an American judge concerning a matter involving bitcoin it was ruled that bitcoin in property and not money avoiding the defendant from being charge on accounts of any illegal activity where the use of money is concern. Let say that cryptocurrency is property and not money and something that has value in itself what do you think will happen to cryptocurrency when matched up against a declining fiat currency.
6. CRYPTOCURRENCY A GOOD WAY OF DIVERSIFICATION
This is the last point I would make here on this subject as I believe it is an extremely vital point. Currently cryptocurrency is seen as a good way to keep value in money by many of the rich and famous people who already know about it, as word get around and more people get to know about cryptocurrency and understand this aspect of it and starts to use it the value of cryptocurrency will only climb. Let look at the scenario with Brexit how bitcoin went from around $500us to about $700us and more in a short space of time